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6 Questions for Lili Zhao of Neo

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6 Questions for Lili Zhao of Neo

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!


This week, our 6 Questions go to Lili Zhao, director of ecosystem growth at Neo — an open-source blockchain development platform.

The A to Z of Lili Zhao:

Authenticity — easier said than done

Blockchain advocate

Community — Neo has the best!

DAO — fascinating!

Economics — interests me much more now than when I was studying it at university

Falling — never afraid of it because I always bounce back

Game — life is a game, so let’s play

Hot — N3 is hot

Ideas — too many ideas, not enough focus

Job — growing the ecosystem of the Neo blockchain by profession and passion

Key — keep your private key safe

Love — may everyone be blessed with it

Minimalist — a chaotic minimalist wannabe

Neo — an open network for the smart economy

Open source — love it

Polaris — Neo hackathon, register now

Qi — breath, energy and flow

Raison d’etre — if you found it, tell me how?

Spicy food — can’t live without it for more than a week!

Twitter — @Lili_Zurich

Unique — all of us are

Vegetarian — 90% of the time, I am one

Wallet — get a NEO wallet on our website

X — do you have a word suggestion?

Yield — a stable NEO/GAS yield

Zurich-based, zest for life!


1  — Does it matter if we ever figure out who Satoshi really is or was? Why, or why not?

It doesn’t matter at all! The technology Satoshi created and its legacy has lived on and will continue to live on. One of the main appeals of the blockchain ecosystem is its community-driven spirit instead of being about personal glorification. Imagine if someone comes out and is indeed being confirmed as Satoshi Nakamoto. If that person deviates widely in terms of values and ethics from the ones envisioned by many, that may shatter some dreams and faith!

The anonymity of Satoshi has allowed people to have their own version of who they might or should be. The identity, or lack thereof, of Satoshi has been elevated into a Holy Grail that is to be pursued.

We say curiosity kills the cat — and in this case, curiosity may kill Bitcoin! Let Satoshi remain as a legendary myth, and let us honor their creation, Bitcoin, by advancing it to mass adoption.

2 — Which countries are doing the most to support blockchain, and which ones will be left behind?

There are quite a few countries that immediately come to people’s minds for those of us working in the blockchain space — namely, Switzerland, Singapore, El Salvador, Portugal, the United Arab Emirates — especially Dubai — and more. However, in my opinion, the country that is doing the most to support the adoption of blockchain technology is actually China. It may surprise some people, as China has been known to ban Bitcoin mining and crypto trading. Let me explain why. 

China’s state-backed Blockchain-based Service Network is working on an interoperable blockchain infrastructure at both the national and international levels. As an open-source blockchain platform, Neo forms part of the permissionless blockchains from the international version of the BSN. The organization plans to support multiple future central bank digital currencies — an initiative in which China is the undisputed champion.

At the national level, the BSN is integrating Neo’s Jiuquan Chain for the large-scale issuance of NFTs, or distributed digital certificates — its alternative name as preferred by China. As stated by He Yifan, CEO of Red Date Technology — the BSN’s technology support provider — “NFTs in China will see annual output in the billions in the future.” The use of the term “digital certificate” indicates that the technology could be used to digitize any asset and automate any paper-based process with smart contracts. 

The mass adoption of blockchain technology can only come when the underlying infrastructure is built with it from the ground up. This is because it is a replacement rather than an upgrade to the existing legacy technology.

China is leading this digital transformation in building blockchain infrastructure and launching large-scale mainstream use cases. This will greatly advance the whole industry globally and, in the long term, benefit everyone.

3 — Which is sillier: $500,000 Bitcoin or $0 Bitcoin? Why?

Bitcoin at $500,000 is sillier because Bitcoin at $0 is impossible! 

Ten years ago, Bitcoin at $50,000 would have been thought of as silly. Today, it has become a norm, even though some question how sustainable it is. Bitcoin will never become zero because it has intrinsic value beyond its technological and monetary merits. In addition, it has become a domain of economics, philosophy and politics.

Value has been redefined in the smart economy underpinned by blockchain technology. The factors that make things valuable according to mainstream economic theories such as labor, costs of production, utility or even scarcity can no longer explain the rise of cryptocurrencies. Take the memecoin Dogecoin, for example: It has an infinite supply and ranks 12th on CoinMarketCap at the time of writing. Or is it because it has a God-like father figure advocate in Elon Musk?

Whatever the case, the point is that value has been fundamentally challenged. Anyone who envisages Bitcoin going down to zero is too attached to the traditional economic theories to recognize this paradigm shift. And silly can be the birthplace of innovation. So, be kind to silliness! (Silly emoticon here)

4 — What’s the most interesting place you’ve ever visited, and why?

I would say the Canggu surf beach in Bali is the most interesting place I have visited. It tops my list not because of the exotic nature but more the feelings it evoked in me while I surfed there — a sense of total freedom and flow! I am a rather spiritual person, so a place with only physical spectacles will delight or impress me; but to move me, it will need to evoke something deep. 

However, despite my passion for surfing, I am actually pretty lousy at it. Haha! I do want to get better, but for me, it’s about the experience rather than being competitive. As someone who values experiences above all, this question is one that I hope I will have a different answer for every year.

5 — What talent do you lack but wish you had? How would you use it if you had it?

I wish I could sing so I could use this talent to make some cool songs that will make people happy or bring some positive impact to their life. Our thoughts and emotions are often suppressed because words are inadequate to capture them. When they are properly captured by the linguistically blessed, they are poetry.

However, when they are linguistically captured and also musically conveyed, they are like food and cocktails for the soul — both nourishing and tasty. A song with the right lyrics and melody can easily move me into a state of bliss, calm or melancholy.

Of course, there is also the possibility of becoming a commercial hit while doing what you love. Singing is one of the few talents that affords such an opportunity.

I would then tokenize all my songs on the Neo blockchain and receive and distribute royalty payments with full transparency. Here, the use case excites me more than being a commercial hit. I suppose I could already become a hit by singing now — people would pay for me to shut up!

6 — Who makes sense to you, and who makes no sense whatsoever?

When I was younger, I was much more opinionated and binary, so I could have given you a long list of who made sense and who didn’t! Now, I am wiser. At least that’s my sense of it. This may make no sense whatsoever to somebody who witnesses the silly things I still say and do at my not-so-tender age.

I am an existentialist. I believe that life has no inherent meaning apart from what each of us chooses to do that gives sense to it. There are three key qualities that I value and use to guide me in life: freedom (to do what I love), authenticity (to be who I am) and growth (a dynamic process evolving with new experiences).

I believe that everything that happens makes sense, even if it might appear senseless at the time of it happening. Navigating through nuance is the fundamental difference that separates us from artificial intelligence, which works best in binary.

A wish for the young, ambitious blockchain community:

No one would be asking for the elusive killer DApp if it were already here — it would be everywhere!

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Korean Police Ask Crypto Exchanges to Freeze Luna Foundation Guard’s Assets

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Korean Police Ask Crypto Exchanges to Freeze Luna Foundation Guard’s Assets

Korean Police Ask Crypto Exchanges to Freeze Luna Foundation Guard's Assets

The South Korean police have reportedly launched an investigation into possible embezzlement involving an employee of Terraform Labs. To prevent fund transfers, the police have requested crypto exchanges to freeze the Luna Foundation Guard’s accounts.

Embezzlement Investigation and Asset Freeze

The Seoul Metropolitan Police Agency’s Cybercrime ​​Investigation Unit announced Monday that it has launched an investigation into possible embezzlement by an employee of Terraform Labs, local media reported.

An official from the Seoul Metropolitan Police Agency was quoted by Chosun as saying:

We have received information that there is a person suspected of embezzling corporate funds who is believed to be an employee of Terraform Labs.

The police received reports of the alleged embezzlement in the middle of this month and have been looking into the case. As part of the investigation, the police plan to check the details of cash and crypto transactions of Terraform Labs and the Luna Foundation Guard (LFG).

The police explained that there is evidence that embezzled funds had flowed into the Luna Foundation Guard’s accounts. The cybercrime unit has therefore requested major domestic cryptocurrency exchanges, such as Upbit and Bithumb, to “urgently” freeze the accounts belonging to the Luna Foundation Guard to prevent withdrawals of funds held at crypto exchanges.

However, the police’s freeze request is not a compulsory matter according to Korean laws and regulations but a matter that needs to be arbitrarily performed by each crypto exchange. Therefore, it has not been confirmed whether the freeze requests have been carried out, the publication conveyed.

Cryptocurrency terra (LUNA) and stablecoin terrausd (UST) collapsed earlier this month after UST lost its peg to the U.S. dollar.

Following the collapse, the Korean government launched an emergency investigation into the two coins and met with representatives of the country’s top crypto exchanges to discuss measures to prevent similar incidents from happening.

Last week, a number of victims filed a lawsuit against Terraform Labs CEO Kwon Do-hyung (aka Do Kwon) with the Seoul Southern District Prosecutors Office on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) and the Act on the Regulation of Similar Receipts.

In addition, Do Kwon dissolved Terraform Labs Korea days before the collapse of LUNA and UST. While many suspected foul play, Kwon claimed that the timing was just “coincidental.” He also claims that his company does not owe the Korean government any taxes.

What do you think about this case? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Registration For The Upcoming VERSE Token By Bitcoin․com Is Now Open

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Registration For The Upcoming VERSE Token By Bitcoin․com Is Now Open

press release

Registrations are now open for the VERSE token sale, which will begin in the later part of June 2022. Interested parties who register can participate in the token sale immediately upon launch.

Miami, Florida – May 23rd, 2022 – VERSE is the rewards and utility token distributed to holders who participate in the Bitcoin.com ecosystem. Bitcoin.com is a global leader in introducing newcomers to cryptocurrency and is the go-to platform for educational resources, news, and more. Bitcoin.com’s ecosystem includes 30 million wallets and more than five million monthly active users across various products and services.

The VERSE token will reward users who engage in buying, selling, spending, swapping, and staying informed about cryptocurrency. Rewards will be allocated by interacting with the Verse DEX, staking VERSE, cashback paid in VERSE, and using VERSE as collateral in various lending pools. Additionally, token holders will receive access to exclusive products and services.

VERSE is a cross-chain token using the ERC-20 token standard on the Ethereum blockchain. The Verse team will actively explore opportunities to expand the token into low-fee Ethereum Virtual Machine-compatible networks to provide an optimal user experience.

The VERSE supply is fixed at 210 billion tokens, distributed over seven years through a block-to-block approach. A further breakdown looks as follows:

  • 10% sold during Sale A (completed in May 2022)
  • 6% being sold during Sale B (coming in June 2022)
  • 15% allocated to the team
  • 35% set aside for ecosystem incentives
  • 34% will be used for funding future development of Verse and its ecosystem

The first token sale raised $33.6 million last month from notable market participants such as Blockchain.com, KuCoin, and Digital Strategies along with thought leaders like Roger Ver, Jihan Wu, and David Wachsman.

“We were honored to see such outspoken support during our first token sale round. Furthermore, we could not be more excited about bringing our second token sale to the public and providing more people with access to VERSE. This new utility token marks a crucial milestone for the Bitcoin.com ecosystem. It will enable us to enhance the mainstream appeal of cryptocurrency and blockchain through our buy/sell services, news coverage, and educational tools” said Dennis Jarvis, CEO Bitcoin.com.

To participate in the upcoming VERSE token sale, interested parties need to register on the Verse website. They will be the first to know when the VERSE token sale is live.

Registrants need an Ethereum wallet – such as the Bitcoin.com Wallet – to receive the VERSE tokens. Payment for the token sale is possible with Bitcoin, Bitcoin Cash, Ethereum, USDT, and USDC.

The Verse community already counts over twenty-five thousand participants combined across Telegram and Discord. VERSE tokens will be minted following the conclusion of the Verse public sale in July.

The VERSE token sale is not available to U.S. purchasers.

Bitcoin.com

Bitcoin.com is your premier source for everything Bitcoin-related. We can help you buy bitcoins and choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other Bitcoin-related companies.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam

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Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam

South Africa’s national broadcaster has suspended one of its employees that is accused of convincing unsuspecting people, including pensioners, to invest in a cryptocurrency scam. More than 100 people are believed to have fallen victim to promises of very high returns to investors in the bitcoin investment scheme.

300% Return on Investment

The South African state broadcaster recently suspended one of its radio presenters, Sebasa Mogale, after a media exposé suggested he may have been part of a cryptocurrency scam outfit that reportedly promised a 300% return on investment.

The decision to suspend the popular broadcaster, who also plays a role in South Africa’s popular television series Skeem Saam, was made after an investigative report by the media outlet Carte Blanche identified him as one of the masterminds behind the scam that allegedly fleeced more than 100 people.

Reports of Mogale’s suspension were confirmed by Gugu Ntuli, the South African Broadcasting Corporation (SABC) group executive responsible for corporate affairs and marketing. In a statement, the executive said:

Thobela FM has taken a decision to unschedule Sebasa Mogale, (Ntshirogele) Afternoon Drive presenter, following the Carte Blanche exposé. Mr Mogale is being afforded an opportunity to resolve the issues raised in the recent broadcast which pertain to his personal business dealings involving cryptocurrency.

Ntuli added that the SABC will “leave no stone unturned” in its own probe into Mogale’s role in the scam.

A Confidence Trickster

According to an exposé by Carte Blanche, Mogale had used his celebrity status to lure some listeners of his radio show to invest. The media outlet’s report said investors with no training in personal finance management had “cashed in their pensions and savings policies.” However, in the end, Mogale’s promises turned out to be empty.

“But for at least 140 people the man they trusted to guide them through the crypto maze appears to have been little more than a confidence trickster,” reads part of Carte Blanche’s summary of the exposé.

Following news of Mogale’s suspension, some of the victims of the scam have come forward to reveal their losses. Sello Bonoko is quoted in another report explaining he became a victim after he listened to Mogale’s bitcoin investment pitch that “sounded convincing.” He also said he trusted Mogale’s promises primarily because these were made on national radio. Bonoko said he lost more than $14,500 (R230,000).

Meanwhile, a spokesman for the South African police is quoted in the report telling Mogale’s victims to file reports with law enforcement. He said the police can only act after formally receiving the complaints.

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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